KUALA LUMPUR (May 26): Paramount Corp Bhd (KL:PARAMON) is expecting a 10% rise in construction costs following recent geopolitical shocks, and plans to increase the prices of its upcoming property launches by 3% to 5% to offset rising building material and fuel expenses.
The 14,000 sq ft space in Johor will mirror the KL Sentral branch, which became profitable within just three months and has reached over 50% occupancy.
“There’s a lot of effort going into monetising the three campuses, the hotel and the office.
“But we are now re-studying whether we could do a whole redevelopment.
Paramount chief executive officer Jeffrey Chew Sun Teong: “We have grown five times over the last ten years and reached RM1 billion in sales.
“Our earnings recognition and future cash flow will be backed by our unbilled sales of RM1.
Phase one of The Atera consists of a block with 47 floors of 756 units affordable serviced apartment, four units business lot and six floors podium car park, which Paramount Corp’s unit Aneka Sepakat Sdn Bhd is developing.
Paramount’s property division recorded revenue of RM225.
SHAH ALAM (March 4): Property developer Paramount Corp Bhd has finally revealed its digital banking plans which include same-day loan disbursement and banking product embedment with property transactions, as applications for Bank Negara Malaysia's (BNM) five digital banking licences enter their final stage of approval.
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